Retirement in Sri Lanka

Hi raveen200,

                    Welcome to Expat.com. I have moved your discussion on a new thread so that you are provided the necessary information but can we have more details on what kind of information are you looking for?

Thank you
Naomi

Hello, retirement here in Sri Lanka is good. The best route for a retired person is to apply for the 'My Dream Home' retirement visa. You need to be able to demonstrate that you can bring in $USA 15000, which is returnable should you leave and is in a fixed rate deposit accoybt during your stay, and a monthly remittance of $USA 1500.  Go to the Sri Lankan Department of Immigration and Emigration website for full details.  The cost is approximately Rs40,40,000/= for a 2 year residence visa plus charges and taxes.  The Dept has an official agency at 330 Galle Road, Colombo 03, not far from Liberty Plaza and they are extremely helpful and you avoid the necessity of going to a busy, busy building by using them.  The visa foes not allow you to work etc.

If you want to purchase a property get a very good lawyer and use a reputable property agent. Leading is probably best though.

I came over initially for six months and rented to help me get a feel for the place etc before I committed myself.

Hope that helps?

If you are an ex Sri Lankan (though you holds a foreign passport) , it is not necessary to prove anything. Just give an postal address. They do not ask about your income or bank statements. Easiest way.

1. in the event you are married to a Sri Lankan citizen the immigration office dept will
   issue a 6 month renewable visa which is followed up by a two year visa renewable 
  You can also apply The for a Dream House Visa if you are aged over 54  there are
  specialist  in Sri Lanka that can give you more advise on application I
  believe you need to set aside USD 15000 which must be lodged into a respectable
Sri Lankan bank such as Bank of Ceylon etc the sum will be returned when you leave the
country,a small interest might be payable by the bank on the sum lodged   
A dream house visa does not actually mean you have to buy a property you can rent 

Regarding supporting your current pension funds take a look at SFIDA  Special Investors
Deposit Account approved by the Sri Lankan Central Bank,this type of account allows one
to place on deposit funds from any part of the world  in any currency on a fixed deposit which
will mature on a yearly basis,if the currency sent is converted to rupees it will attract a the
highest interest rate,your rupees can be converted back say to pounds sterling at the rate of
exchange on maturity and repatriated to the original source,or alternatively you can roll
over the investment for another year at a new interest rate   
SFIDA also offers a monthly withdrawal investment but the interest rate is reduced
Bank of Ceylon currently offering SFIDA yearly maturity at 8.25% and or about 7.25
per cent on a monthly basis withdrawal   
I have checked out other banks such as HSBC but their SFIDA is very costly and rates are less
than BOC at the moment   
Check out with BOC for more details  and what the minimum investment is required
The information is based on my findings recently important to know I am NOT a Financial Advisory
so no responsibilty can be taken by me